Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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- Estimate the present value of an annuity if payments are $1000 monthly for 15 years and the account earns interest at the rate of 10%/yr compounded continuously. (Round your answer to two decimal places.)$arrow_forwardWhat is the present value of an annuity consisting of payments of $800 every month for 8 years, with the first cash flow occurring in one month, if the interest rate is 7% p.a., compounded monthly? Select one: a. $4889.84 b. $4777.04 c. $58678.05 d. $58649.67arrow_forward5. a) Complete the following table for the first 4 periods of an annuity that pays 8.2% compounded monthly. You are making $250 payments at the end of each period. Your initial deposit is $3000. Period Interest earned Payment Ending Balance 3000.00 2 4 b) How much will be in your account at the end of the 4th period? c) How much did you contribute? d) How much interest was earned?arrow_forward
- Find the future value of an annuity due of $1,500 semiannually for six years at 7% annual interest compounded semiannually. What is the total investment? What is the interest? E Click the icon to view the Future Value of $1.00 Ordinary Annuity table. The future value is $. (Round to the nearest cent as needed.)arrow_forwardAssume that you make monthly payments of $ 675 into an ordinary annuity paying 6% compounded monthly. How much will be in the account after 12 years? Amount =arrow_forwardThe state income rate on your account is 3.5 interest compounded monthly. If you deposit 100 each month, how much will you have in your account in 8 years?arrow_forward
- Find the periodic withdrawals PMT for the given annuity account. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200,000 at 6%, paid out monthly for 11 years PMT = $ Need Help? Read It Watch Itarrow_forwardIf you have a 13-year annuity paying $305 quarterly in 5 years when interest is 3.25% compounded semi-annually, what is the number of missed payments? Treat the deferred annuity as an ordinary annuity with the first annuity payment at the 5-year mark.arrow_forwardFind the future value (FV) of the annuity due. (Round your answer to the nearest cent.) $165 monthly payment, 7% interest, 11 yearsarrow_forward
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